US-listed security and aerospace company Lockheed Martin has hired Christopher Moran (pictured from Linkedin) for the newly-created role of executive director and general manager of Lockheed Martin Ventures.
Moran had spent eight years from 2005 as general manager of Applied Ventures, the corporate venturing unit of technology firm Applied Materials, before leaving a few years ago, according to Applied Ventures’ head, Tony Chao.
At Lockheed, Moran will oversee all of the corporation venture capital fund, including strategy creation, pipeline development and management, transaction execution and investment tracking and reporting, the firm said.
Lockheed Martin Ventures will invest in technology innovations that could drive growth in existing, adjacent and new markets. The move follows a previous effort at founding a $100m CVC fund, run by Susan Costlow between 2007 and 2014.
Greg Psihas, vice-president of corporate development at Lockheed, said: “Venture investing is not new to Lockheed Martin as we have provided funding to venture stage companies since 2007.
“The corporation has invested more than $100m over the last nine years in 22 venture stage companies, including companies spun out of university research programs as well as out of Lockheed Martin.
“Chris’ deep technology background will elevate our capital deployment strategies and focus our investments in companies that are developing cutting edge technologies that complement our existing innovation efforts.
“With his guidance, we will work with other leading investors to identify, make and manage financially attractive investments that support Lockheed Martin’s strategic objectives. Our investments will typically range from $1m to $5m and focus on companies creating disruptive technologies that advance our core capabilities.”